Investors Alert – Sempra Energy (NYSE:SRE)

Sempra Energy (NYSE:SRE) ended with change of -0.65% to $109.08 with the total traded volume of 2497816 shares versus to an average volume of 2.50M. The stock was up in the 5 days activity 1.86%. The one month performance of stock was high 4.79%. SRE shares are below -6.22% for the quarter and driving a 0.95% rally over the course of the past year and is now up 2.02% since this point in 2018. Right now SRE beta is 0.54. The average volatility for the week and month was at 2.42% and 2.28% respectively.”

Sempra Energy (NYSE:SRE) recently completed its $9.45 billion acquisition of Energy Future Holdings Corp. (EFH), including EFH’s approximate 80-percent indirect ownership interest in Oncor Electric Delivery Company LLC (Oncor). The close of the transaction creates a utility holding company with the largest U.S. customer base.

Debra L. Reed, chairman, president and CEO of Sempra Energy said “The completion of this acquisition – the biggest in our 20-year history – represents an important milestone in the execution of our growth strategy moving forward”. “We expect the addition of Oncor to diversify our base of U.S. utility earnings and create a broader platform for our expansion in the future. Oncor is an exceptional utility and we plan to provide the support it needs to continue to safely and reliably meet the needs of its millions of customers and the expanding economy in Texas.”

Oncor will remain headquartered in Dallas. Allen Nye, who has been serving as Oncor’s senior vice president and general counsel, now becomes Oncor’s CEO, succeeding Bob Shapard, who becomes Oncor’s chairman.

Nye said “We are thrilled to have a financially strong and dynamic majority owner in Sempra Energy”. “Sempra Energy will be a great partner in our mission to provide the safest, most reliable and affordable electric service to our customers.”

The Public Utility Commission of Texas approved Sempra Energy’s and Oncor’s joint Change-in-Control application yesterday. The U.S. Bankruptcy Court for the District of Delaware provided its final approval last month. Sempra Energy entered into the agreement to acquire EFH Aug. 21, 2017.

Headquartered in Dallas, Oncor is a regulated electric transmission and distribution service provider, made up of approximately 134,000 miles of lines and nearly 3.5 million advanced meters, making it the largest utility in Texas. Using cutting-edge technology, more than 3,900 employees work to safely maintain reliable electric delivery service to over 11 million Texans.

Shares of Sempra Energy have been recently spotted trading -11.30% off of the 52-week high price. On the other end, company shares have been noted 8.40% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 100.63 – 122.97. Switching over to some distances from popular moving averages, we see that the stock has been recorded 1.98% away from the 50 day moving average and -4.02% away from the 200 day moving average. Moving closer, we can see that shares have been trading 1.18% off of the 20-day moving average.

Garrick Tony

Garrick Tony is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 10 years of investment experience, an M.B.A. from Louisiana State University, and is also certified in Risk Management Assurance. Garrick is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Business News category for our site.
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